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Monthly instalments on personal loans and car financing are also set to rise. Razan Alzayani / The National
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Federal Reserve Chairman Jerome Powell holds a news conference following the announcement that the Fed raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, US. Reuters
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The Central Bank of the UAE also increased its base rate for the overnight deposit facility (ODF) by half a percentage point point. Photo: Central Bank of the UAE
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Residents with variable rate mortgages will feel the change as soon as their next monthly payment is due. Antonie Robertson / The National
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Changes to credit card interest rates are expected within a billing cycle or two. Antonie Robertson / The National
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/OQMYQWK44OJWVVTFK6243DLQJM.jpg?smart=true&auth=03fdd0c3fee0a7edf2d58d43f2c8920b11472ed9b35764644f69acc744ddce2e&width=400&height=225)
Monthly instalments on personal loans and car financing are also set to rise. Razan Alzayani / The National
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/ISJNDPW5L2MSDUZRNPPJ67S3M4.jpg?smart=true&auth=7b971e46ba07716defd5fe6c71264525d20bdf82484facfebcaa933988a2a3e4&width=400&height=225)
Federal Reserve Chairman Jerome Powell holds a news conference following the announcement that the Fed raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, US. Reuters
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/TPSNP5YX7ZC6XONLMHWODODA7A.jpeg?smart=true&auth=79abc3189860e5fd94dab7293b4d20663d630949ab06f182a0434f9ef6f2de47&width=400&height=225)
The Central Bank of the UAE also increased its base rate for the overnight deposit facility (ODF) by half a percentage point point. Photo: Central Bank of the UAE
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/XC7TA2TIFNEH225UWN7FN7NOCE.jpg?smart=true&auth=dd7a6a6d13d79b936620d92a5e08fce724862c968371a854c7a98884417e3a4b&width=400&height=225)
Residents with variable rate mortgages will feel the change as soon as their next monthly payment is due. Antonie Robertson / The National
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/TDPYZLMZOYNSSZFZQGAHQHXAHE.jpg?smart=true&auth=75602560b606d82b07e7e001403e0d2028a949b787fed2a30c8d851dcbe77eb9&width=400&height=225)
Changes to credit card interest rates are expected within a billing cycle or two. Antonie Robertson / The National
![](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/OQMYQWK44OJWVVTFK6243DLQJM.jpg?smart=true&auth=03fdd0c3fee0a7edf2d58d43f2c8920b11472ed9b35764644f69acc744ddce2e&width=400&height=225)
Monthly instalments on personal loans and car financing are also set to rise. Razan Alzayani / The National
Five tips to beat the rising costs of inflation
Create a budget, prioritise spending, look for cheaper alternatives and invest to beat future inflation, personal finance experts say
![Deepthi Nair](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/https%3A%2F%2Fs3.amazonaws.com%2Farc-authors%2Fthenational%2Fc4ca6cb5-05b0-4e9a-94ca-35da7c89dd08.png?smart=true&auth=323b2b0a205e9228ce068424503266b9b08ad01ae4b5b2076805a9f2abd92a5c&width=70&height=70)
Deepthi Nair
24 March, 2022
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